Wilmington, Delaware, United States, May 08, 2023 (GLOBE NEWSWIRE) -- The global skincare devices market stood at US$ 11.4 Bn in 2020 and is anticipated to reach US$ 23.9 Bn by 2028, expanding at a CAGR of 9.9% between 2021 and 2028.
Rise in demand for consumer durable electronics offers lucrative opportunities for market participants and eCommerce. Compared to natural therapies, skincare devices that exfoliate the skin's surface utilizing spinning discs encrusted with aluminum oxide crystals speed up the regeneration of new skin cells. Usage of this device is discouraged for those who have melisma, nevertheless, as it could worsen skin pigmentation.
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Market players are expected to raise understanding about the many different types of skincare devices to minimize negative impact on consumers. For more credibility, they could make more dermatologist-approved devices available.
The global skincare devices market is anticipated to be driven by rise in prevalence of skin disorders such as rosacea, psoriasis, atopic dermatitis, acne, and skin cancer. Another significant driver propelling the skincare devices industry in the U.S. is increase in inclination toward minimally and non-invasive methods. The American Society of Plastic Surgeons estimates that about 15.6 million cosmetic treatments, including 2.3 million surgical procedures and 3.2 million minimally invasive procedures, were carried out in the U.S. in 2020.
Key Findings of Market Report
- In terms of application, the cellulite reduction segment dominated the global market for skincare devices in 2020. The trend is anticipated to continue during the forecast period. Global rise in cases of obesity, preference for non-invasive fat removal techniques over traditional ones, and high number of consumers willing to spend on these procedures are expected to drive the segment.
- The LED (Light Emitting Diode) therapy is expected to hold a significant share of the treatment devices segment from 2021 to 2028. Dermatologists employ LED treatment, sometimes referred to as photon rejuvenation therapy, to cure acne, fade fine lines & scars, and rejuvenate skin. Cosmetic operations that improve physical appearance and help people appear younger-looking and fit are becoming increasingly popular. These procedures include skin rejuvenation, skin tightening, liposuction, and body sculpting.
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Global Skincare Devices Market: Growth Drivers
- Companies in the skincare device industry are responding to increasing market need for on-demand services and products during global coronavirus outbreak. Marketing and promotion on digital sales platforms are attracting attention with their attractive deals and price cuts on items. Social media is developing as a viable marketing platform to raise awareness about the advantages of skincare devices and encourage their adoption. As a result, skincare device manufacturers are using data-driven research to predict product demand and supply before making investments in new markets and technologies. Companies are developing balanced relationships with their suppliers and ecosystem partners to become resilient to such pandemic situations.
Global Skincare Devices Market: Regional Landscape
- North America held a 40% share of the global market in 2020. Advent of new technology for different medical procedures and existence of a sizable high-income customer base are projected to propel the industry in the region. The market for skincare devices in North America is anticipated to be driven by increase in the number of elderly people, rise in incidence of skin problems, and high adoption of cutting-edge products and processes.
Global Skincare Devices Market: Key Players
- Human med AG
- Alma Lasers, Inc.
- Syneron Medical Ltd.
- GE Healthcare
- Michelson Diagnostics Ltd
- Solta Medical, Inc.
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Global Skincare Devices Market: Segmentation
Type
- Diagnostic Devices
- Treatment Devices
Application
- Disease Diagnosis & Treatment
- Skin Rejuvenation (acne, sun damage, and wrinkles)
- Hair Removal
- Cellulite Reduction
- Skin Tightening & Body Contouring
- Damage Repair
Regions
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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